Fortis Healthcare Q3 results: Net profit jumps 89% to Rs 254 crore

Fortis Healthcare Ltd on Friday reported an 89 per cent jump in consolidated net profit to Rs 254.3 crore in the December quarter, boosted by exceptional item gains.

The company had posted a consolidated net profit of Rs 134.23 crore in the same quarter last fiscal, Fortis Healthcare Ltd (FHL) said in a regulatory filing. 

Consolidated revenue from operations in the third quarter stood at Rs 1,928.26 crore against Rs 1,679.68 crore in the year-ago period, it added.

During the quarter, the company had exceptional item gain of Rs 23.5 crore from the sale of Richmond Road Hospital, Bengaluru and Rs 30 lakh from reversal of allowance of interest accrued receivable from Fortis C Doc Healthcare Ltd, the filing said.

 

Total expenses were higher at Rs 1,695.62 crore in the October-December quarter compared to Rs 1,515.58 crore in the corresponding period last fiscal, the company said.

"We have continued our positive momentum in Q3 with the hospital business contributing approximately 84 per cent to our consolidated revenue...," Fortis Healthcare MD and CEO Ashutosh Raghuvanshi said.

Revenue from focus specialities comprising oncology, neurosciences, cardiac sciences, gastroenterology, orthopaedics and renal sciences contributed 62 per cent to overall hospital business revenues, he added.